New York, USA, Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global cloud applications market is forecasted to reach $437.9 billion by the end of 2026 at a CAGR of 18.0%, increasing from $118.7 billion in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the cloud applications market is projected to record a CAGR of 18.0% during the forecast period, rising from the estimated CAGR of 15.8% in the pre-pandemic scenario. The main factor behind this growth is the growing product demand during the pandemic. With the emergence of COIVD-19, most of the companies shifted to ‘work from home’ culture to ensure the safety of the employees. This shift has resulted in the rise of cloud computing for seamless remote work. This is the reason behind the growth of the global cloud applications market during the forecast period.
Check out How COVID-19 impacts the Global Cloud Applications Market: https://www.researchdive.com/connect-to-analyst/193
Factors Impacting the Revenue before and after the Pandemic
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations.
During the pandemic, companies have adopted cloud applications in order to manage their database over the cloud as it reduces the infrastructure cost and make remote working easier. This is one of the major factors behind the growth of the global cloud applications market during the pandemic.
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Key Players & Strategies
1. Microsoft Corporation
2. Salesforce
3. Oracle
4. SAP
5. Google
6. Workday
7. Adobe
8. IBM
9. Infor
10. Sage Group
For instance, In April 2018, Oracle, a multinational computer technology corporation, completed its acquisition of Vocado, a global student-centric, cloud-based financial aid solution provider for higher academic institutes. Oracle Student Cloud is a cloud-based, next-generation Student Information System (SIS) which supports all academic infrastructures.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Post Pandemic Insight
The global market of cloud applications is expected to sustain its growth even the post pandemic period because of its convenience and other features. The demand of cloud applications is not going to cease as most of the companies are sticking to remote and hybrid working culture even after the pandemic. Moreover, the key players are concentrating on the merger and acquisition, partnership, and new product development to meet the regular demand of smart cloud applications.
The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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